Advanced Bullish/Bearish Pinbar Screener

Forums ProRealTime English forum ProScreener support Advanced Bullish/Bearish Pinbar Screener

Viewing 11 posts - 1 through 11 (of 11 total)
  • #55809

    Great work juanj re the Screener, I have a question and I have made an attachment to make it easier for you to answer so I started this Thread based on your Library post here 

    https://www.prorealcode.com/prorealtime-market-screeners/advanced-bullishbearish-pinbar-screener/

    How are bounces counted  please? The image attached shows a pinbar result value =  -4. I’ve numbered 7 bars for you to refer to. Are bounces counted if they are within a certain % of highest or how do you count 4 bounces from attached?

    Everything is as your original code.  Lookback is 30, but bars bars 1, 2, 3 and 4 (which are are bouncing / rejecting a level) would be within a Lookback of 7 so I am confused. 

    I can’t see exactly how the code arrives at a count of 4 in the code. If anyone else can see it then let me know please?

    Thank You
    GraHal 

    #55811

    I’m prob gonna answer my own question again (best way to learn! 🙂 )

    Pinbar that has been detected is Bar 6 (bar 7 hasn’t closed yet and isn’t a pinbar anyway) but current mid-price is 9446 and there are 4 other pinbars (bars 1, 2, 3, and 4) showing  a high within ‘1’ of 9446 … so is that how  Juanj code gives a count of – 4?? 

    GraHal  

    #56057

    juanj (as code author on the link in OP) or anybody (who can read other’s complex code!?) … are my assumptions correct?

    Or how are bounces counted please?

    Thank You
    GraHal

    #56058

    The best way to understand how the code works is to make it as an indicator, to better visualize when a new pinbar occurs and how it makes the bounces count:

    New pinbar condition is histogram, bounces count is a line.

    I don’t know if it works correctly though…

    #56081

    I did a reply to this at about 12:20 pm today, I pressed submit and then all I saw was ‘no reply submitted’ and I was logged out.  Strange??

    Happened to me once before over 12 months ago, not ever since. Thought I’d say anyway for the record.

    Same ever happen to anybody reading this??

    #56083

    This a shortened version of the reply I lost (maybe shorter is better! 😉 )  …  I don’t think the Indicator is working Nicolas?

    The line shows -4 (see attached) so 4 bounces supposedly (?) but I can see only 1 bounce within the lookback period of 30 … the pinbar before the ‘histo pinbar’?

    GraHal

    #56088

    Sorry GraHal, I made so many little modifications on the website actually, that sometimes I need to reboot/purge/delete/replace files, etc.. and I can’t do it at night while people are sleeping ’cause I’m sleeping too 🙂

    Well, this screener’s code is not mine and I’m hardly understand how @juanj has made it. I know he’s on vacation and he’ll be back in January. In the meantime I may have a look between other things like eating roasted turkeys and opening my christmas gifts (if I got some … not sure I been kind enough this year ..).

    #56097

    HAHAHAHA Thank you Nicolas … You’ve been kind enough to all of us anyway … so I hope you get many presents to open!!

    Thank you for letting me know Juanj is on hols, cos sometimes I get involved where I see that a member of the Community has put in a lot of effort re coding us a great Screener or Strategy etc and no-one seems to be using the code / even care / say thank you etc.  In this instance (as I started a Forum Thread for Juanj Screener) I was thinking … why won’t you answer Juanj …  now I know why – he’s on hols! 🙂

    Also you have answered me a question (that was in my ‘lost comment’ earlier) … often I think, why am I struggling to decipher how this code works, a skilled coder on here could tell me in 2 or 3 mins! But seems it’s not even easy when you are as good as you are! I know you could of course, but even for you it can take time so I might struggle a bit more now!

    All the Best for Christmas
    GraHal

    #56117

    a skilled coder on here could tell me in 2 or 3 mins! But seems it’s not even easy when you are as good as you are!

    Sometimes I got problems to understand things I’ve coded myself many months before!

    About the pinbar pattern bounces on support/resistance, the easier way for me would be to recode the whole concept my own style, but I don’t want to throw away the work @juanj has made with his own view.

    1 user thanked author for this post.
    #56129

    Sure let’s leave it until Junaj gets back off hols … maybe he’s skiiing or soaking up the sun on Bora Bora … all paid for with winnings from his Screener! 🙂

    I’m running the Screener and it sure does look like I said in #55811  Screener detects a pinbar and if the price level  + or – ‘1’ (of high or low bull / bear pin) has been hit by a previous pinbar then the Screener counts 1, 2, 3 0r -1, -2, -3 etc. Seems it doesn’t have to be hitting the same price level to add to the count, just so long as it is within ‘1’ of the previous pinbar / bounce … very clever!?

    So a higher count could mean a higher confidence of a reversal!? However, if the price level at which the bounce occurs is progressively increasing (for a bearish reversal) then it may just shoot through (the price zone) after all and become a bullish breakout!?  Always wait for the next bar for confirmation of direction.

    Thought I’d say above to save skilled coders spending too much time working out Juanj original code.

    Best to All
    GraHal

     

     

    #56159

    Ha I dont think the criteria is ‘1’ from previous (as I suggest above) but look at attached … the count is -6 and hey presto 6 rejections of a price zone … I’m impressed.

    Spread is 20 points so I won’t be shorting! 🙂

    GraHal

Viewing 11 posts - 1 through 11 (of 11 total)

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